Over $3.5 Million Dollars In Assets? The GRAT is Right – Right Now
The Wall Street Journal has an excellent article on the virtues and reasons for a GRAT right now. If you have been considering a GRAT (Grantor Retained Annuity Trust) there has probably never been a better time. Want to know more? Read on… www.paestateplanners.com
Documents In Order Can Mean Savings Of Time, Fees and Can Eliminate Trouble
Completing your Enhanced Estate Plan(TM) our proprietary process (often consisting of a Will, Power of Attorney, Advanced Medical Directive and one or more Trusts), is often viewed as the end of the process. But, smart clients and estate and asset protection planners know that there is still a bit more to do. I can hear …
Joint Accounts Can Have Unexpected Pitfalls
Joint bank accounts are often established by individuals with the hope of creating an account with one or more of the following benefits: probate avoidance, reduced inheritance taxes or as a convenient way to allow family member to write checks and pay bills. Unfortunately there are numerous Medicaid/Elder Law Planning, estate planning and asset protection …
Tax Day and Gift Tax Returns Do You Need and Extension to File?
Have you set up a GRAT, given a check or gifted property worth more than $13,000.00, paid for tuition or medical expenses for another person, given away real estate, corporate or business interests or other hard to value assets in 2008. Your gift tax return may be due. Be sure to file or get an …
“Freeze” or Radical Increase in the Federal Death Tax on You and Your Family?
Read this just posted an article on the Federal Government’s claim that the proposals circulating in congress are a decrease in the tax and are quite reasonable. For competing views on this controversial tax and how to plan for it read this article by Chester County based will, trust, estate and asset protection lawyer …
Protecting Your Home Contracting Business – Does This New Law Apply To You or Your Business?
This blog and this department of the firm focus on wills, trusts, estate and asset protection. But, there is no better form of asset protection than making sure that your Pennsylvania based business complies with new laws. Indeed, the newest act that may affect your business applies if you do work or sell products related …
"Legacy Locker" Protecting Your Online Passwords and Accounts for Your Beneficiaries
Many of us have multiple email address, online bank and stock accounts and conduct social and business activity through sites such as LinkedIn and Facebook. I also have a significant number of clients who have business related websites that are responsible for generating a great deal of revenue. We do not necessarily want to make …
Federal Estate or “death” Tax and The New York Times
There are many views on the issue of estate taxes. The New York Times editorial may not be your view but it is worth a read. Do you think that a tax at your death should not be labeled a death tax? Read the New York Times Death Tax Editorial. David M. Frees …
Senate Votes On A budget Bill to Exempt More Estates – Will It Hold?
While this is only a budget bill, and only in the Senate, there was some movement on estate tax reform today. If this type of bill were to ultimately pass the house and senate it would allow many more couples, and individuals to do estate and asset protection planning for their heirs without some of …
IRA Trusts, Providing Extra Creditor and Asset Protection
IRA’s and other tax deferred retirement plans can now be left to trusts for your beneficiaries instead of directly to the beneficiaries. These IRA Trusts are broadly categorized as either conduit trusts or accumulation trusts. These trusts must be written with care in order to insure that not only are the assets protected from the …